LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Vodafone pledges entire stake in VodaIdea with foreign banks

Vodafone holds 44.39 per cent stake in Vodafone Idea which at Thursday's trading price is worth over Rs 18,000 crore.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Vodafone pledges entire stake in VodaIdea with foreign banks
In a regulatory filing to stock exchanges, the company said Vodafone Group companies have pledged their 44.39 per cent stake in Vodafone Idea. Representational Image, source: Reuters
Written By: PTI
Updated: Thu, May 09, 2019
02:38 pm
New Delhi, PTI
RELATED NEWS
Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1 Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1
Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones
Vodafone Idea: Vi is offering double data benefits on these prepaid plans | Check full details NOW Vodafone Idea: Vi is offering double data benefits on these prepaid plans | Check full details NOW
You may have to pay more for talking over phone, data tariffs from THIS date You may have to pay more for talking over phone, data tariffs from THIS date
Vodafone-Idea recharge: Get free unlimited internet at night; Check Full details here Vodafone-Idea recharge: Get free unlimited internet at night; Check Full details here

Vodafone Plc has pledged its entire stake in Vodafone Idea with seven foreign banks shortly after the country's largest telecom operator issued new shares to promoters to raise funds to pare debt. Vodafone holds 44.39 per cent stake in Vodafone Idea which at Thursday's trading price is worth over Rs 18,000 crore. In a regulatory filing to stock exchanges, the company said Vodafone Group companies have pledged their 44.39 per cent stake in Vodafone Idea. The pledge was created "in relation to financing arrangements for Vodafone Group companies" in favour of HSBC Corporate Trustee Company (UK) Ltd, which is acting as a trustee for BNP Paribas, HSBC Bank Plc, ING Bank NV Singapore branch, StanChart Bank, Bank of America Merrill Lynch and Morgan Stanley Senior Funding Inc, the filing said.

"Each of the entities named above has been incorporated outside India," it said. Vodafone Group holds a stake in Vodafone Idea through 12 entities based out of India and Mauritius. The Mauritius-based entities include Al-Amin Investments, Asian Telecommunication Investments (Mauritius), Trans Crystal, Vodafone Telecommunications (India), CCI (Mauritius), Inc, Euro Pacific Securities, Prime Metals and Mobilvest.

Indian entities are Omega Telecom Holdings, Jaykay Finholding (India), Telecom Investments India and Usha Martin Telematics. "The Vodafone Promoter Shareholders collectively hold 127.55 crore equity shares of the target company (Vodafone Idea) comprising approximately 44.39 per cent of the equity share capital. Such equity shares are subject to an indirect encumbrance," it said. The pledge was created within days of Vodafone Group and its partner Aditya Birla Group infusing Rs 17,920 crore into Vodafone Idea via a rights issue. After the fund infusion, the promoter's stake had risen to 71.57 per cent from 71.33 per cent.

The rights issue, in all, raised Rs 25,000 crore with a view to cut debt, which stands at a staggering Rs 1.14 lakh crore.  Vodafone and Idea last year merged their businesses to create India's largest telecom company to take on competition posed by Mukesh Ambani's Reliance Jio. Euro Pacific Securities holds the biggest chunk of shares in Vodafone Idea at 11.13 per cent. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
VodafoneIdea-Vodafone
RELATED NEWS
Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1 Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1
Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones
Vodafone Idea: Vi is offering double data benefits on these prepaid plans | Check full details NOW Vodafone Idea: Vi is offering double data benefits on these prepaid plans | Check full details NOW
You may have to pay more for talking over phone, data tariffs from THIS date You may have to pay more for talking over phone, data tariffs from THIS date
Vodafone-Idea recharge: Get free unlimited internet at night; Check Full details here Vodafone-Idea recharge: Get free unlimited internet at night; Check Full details here

LATEST NEWS

BIG! VACCINATION FOR ALL for 18 years and above from 1 May - here are key takeaways form this Government decision

Stock market volatility: Anil Singhvi reveals key levels to watch; says Bank Nifty will take longer to recover than Nifty

7th Pay Commission: DA, DR, TA calculation, salary change from July 1 and other updates for central government employees, pensioners

Macrotech Developers lists at discount of over 10%, disappoints retail Investors

FREEJOBALERT! Tired of mainstream jobs? Earn up to Rs 1.5 Lakh with these 320 vacant posts at Sports Authority of India Recruitment 2021

Alert! THIS forwarded link on your WhatsApp with APK download link is a trap; Don't click - Check all details here

Stocks in Focus on April 19: Macrotech Developers, HDFC Bank, Mindtree, Pharma Stocks to KEC International; here are the 5 Newsmakers of the Day

ACC net profit up 74 pct YoY in Jan-March quarter at Rs 562 cr; Co maintains “cautious yet positive outlook”; See 7 takeaways from results

PUBG Mobile Lite Update: Season 24 release date revealed, check WP rewards, APK download link and more

CLSA says 2-wheeler recovery momentum slowing, downgrades Hero Motocorp, Bajaj Auto; maintains outperform on TVS Motor

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved